3035 New Hvn Ave, West Melbourne, FL 32904-3605
- Retail space
- 5,442 SF
- 0.74 lot acres
Current Use by Public Records
- Retail space
Property Details for 3035 New Hvn Ave
- Year built
- 1963
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.74 lot acres
- Property type
- Retail space
- APN
- 28-36-01-76-00000.0-0035.00
- APU
- 9223372036854775807
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 22, 2025 | $3,900,000 | Brown Capital Lllp | Meadowlane W Melbourne LLC | Special Warranty Deed | — |
| Oct 12, 2023 | $2,000,000 | Meadowlane W Melbourne LLC | Melbourne SR Cgp LLC | Special Warranty Deed | — |
| Oct 12, 2023 | — | Fifth Third Bank National Associati | 2023 Meadowlane W Melbourne LLC | Lease · related | — |
| Nov 10, 2021 | $1,225,000 | Melbourne SR Cgp LLC | Pam LLC | Special Warranty Deed | $796k · Servisfirst Bank |
| May 21, 2019 | $100 | Pam LLC | Pamela Jo Newey Grantor | Grant Deed | — |
| Jun 24, 2016 | — | Segovia Ventures LLC | Dmb Trust | Grant Deed | — |
| Jan 8, 2002 | $570,000 | Necmb LLC | Smp Enterprises INC | Grant Deed | $660k · Southtrust Bank NA |
Description
This exceptional investment opportunity presents a 1,900 square foot retail property, currently leased to Fifth Third Bank under a 20-year absolute NNN ground lease. The property boasts a 4.50% cap rate and a strong NOI of $180,000, with rent bumps of 10% every five years. Situated on a 0.74-acre lot at 3035 W New Haven Ave, Melbourne, FL 32904, this bank enjoys a prime location in a high-income area, near major retailers like Home Depot, Lowe's, Target, Sam's Club, and Publix. The property benefits from high traffic volume (~68,000 vehicles per day) at the signalized intersection of Minton Rd and W New Haven Ave. Built in 2024, this single-tenant property offers zero landlord responsibilities, providing passive ownership with a corporate guarantee from Fifth Third Bank, rated A- by Standard & Poor's. The lease includes four, five-year options, ensuring long-term stability and predictable income. The asking price is $4,000,000, translating to a price per square foot of $2,105.26. This is a truly exceptional investment opportunity in a thriving retail corridor of Southeast Florida.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,645,000
- ML approach
- $1,790,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,402,000
Market price range: $485k - $1.40M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $2,080,000
- COMMERCIAL (GENERAL)
- $1,685,000
- AUTO REPAIR, GARAGE
- $1,215,000
- OFFICE BUILDING
- $1,105,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- West Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.6715
- Latitude
- 28.0784
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
